Swiss National Bank Purchases 8,100 Shares of Braze, Inc. (NASDAQ:BRZE)

Swiss National Bank raised its stake in Braze, Inc. (NASDAQ:BRZE - Free Report) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,600 shares of the company's stock after buying an additional 8,100 shares during the period. Swiss National Bank owned about 0.12% of Braze worth $5,093,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Braze by 185.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,535 shares of the company's stock worth $2,996,000 after acquiring an additional 46,452 shares during the period. EverSource Wealth Advisors LLC grew its stake in Braze by 8,436.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 939 shares of the company's stock worth $39,000 after purchasing an additional 928 shares during the period. HighTower Advisors LLC increased its holdings in Braze by 38.7% in the fourth quarter. HighTower Advisors LLC now owns 11,007 shares of the company's stock worth $461,000 after purchasing an additional 3,071 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Braze by 16.9% in the fourth quarter. King Luther Capital Management Corp now owns 122,887 shares of the company's stock valued at $5,147,000 after buying an additional 17,731 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Braze by 9.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,647 shares of the company's stock valued at $823,000 after buying an additional 1,743 shares during the period. 90.47% of the stock is currently owned by institutional investors.

Remove Ads

Insider Activity

In related news, CAO Pankaj Malik sold 3,700 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.77, for a total transaction of $169,349.00. Following the completion of the transaction, the chief accounting officer now owns 54,784 shares in the company, valued at approximately $2,507,463.68. This represents a 6.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jonathan Hyman sold 5,210 shares of Braze stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $40.82, for a total transaction of $212,672.20. Following the completion of the sale, the chief technology officer now directly owns 157,810 shares in the company, valued at approximately $6,441,804.20. This represents a 3.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,470 shares of company stock valued at $3,841,921 in the last ninety days. 24.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BRZE has been the subject of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price objective on shares of Braze in a research note on Friday. Stifel Nicolaus set a $50.00 price target on shares of Braze and gave the stock a "buy" rating in a report on Friday. William Blair reiterated an "outperform" rating on shares of Braze in a report on Thursday, December 19th. Raymond James increased their price objective on shares of Braze from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Macquarie boosted their target price on Braze from $30.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Braze has a consensus rating of "Buy" and an average price target of $53.00.

Braze Stock Up 2.2 %

BRZE stock traded up $0.81 during trading on Friday, reaching $37.51. The stock had a trading volume of 5,430,505 shares, compared to its average volume of 1,224,687. Braze, Inc. has a one year low of $29.18 and a one year high of $48.33. The company's 50 day moving average is $39.80 and its two-hundred day moving average is $37.97. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -32.90 and a beta of 1.17.

Braze (NASDAQ:BRZE - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. The company had revenue of $160.40 million during the quarter, compared to the consensus estimate of $155.72 million. Braze had a negative return on equity of 24.88% and a negative net margin of 20.41%. Braze's revenue was up 22.4% on a year-over-year basis. During the same period last year, the business posted ($0.04) earnings per share. As a group, research analysts predict that Braze, Inc. will post -0.98 earnings per share for the current fiscal year.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.